Facebook Will Offer Up 50 Million More Shares Than Expected

Facebook has announced that it will be selling an extra 50.6 million shares, at a price likely to fall between $US34 and $US38 per share, reports TechCrunch. That should snag them at least another $US13.1 billion — and probably push their final valuation north of the expected $US100 million.

The extra release of 50,612,302 shares will be offered to underwriters to cover over-allotments. In total, that will mean that Facebook is now selling 388 million shares.

It' still not worth buying one, though. [TechCrunch]

Image: west.m/Flickr

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